During the Trump administration's temporary tariff exemption for some electronic products, Commerce Secretary Howard Rootnik clearly stated that this measure would be temporary. On the 13th (local time), Secretary Rootnik emphasized that a separate "sector-specific tariff" for the semiconductor sector would be applied within the next one or two months, stressing that it is not a long-term preferential treatment.
Secretary Rootnik said, "President Trump mentioned pharmaceuticals, semiconductors, and the automotive industry, expressing his intention to apply sector-specific tariffs without negotiation for these items." He further explained that the goal is to reduce dependence on China, emphasizing that key national security items must be manufactured in the United States. He also added that he is optimistic that the US and China will ultimately reach a trade agreement.
This tariff exemption is limited to semiconductor-related electronic products such as smartphones, graphics processors, and computing chips, and is far from the long-term tariff deferral that the market expected. As President Trump emphasizes domestic production of core industries under the banner of national security and technological sovereignty, the possibility of future trade policies solidifying into a sustainable strategic framework is increasing.
In fact, these tariff policies have caused significant shocks to the financial markets. After the Trump-led tariff war intensified, cryptocurrencies and the stock market plummeted simultaneously, causing trillions of dollars in value to evaporate. Bloomberg analyst Eric Balchunas noted that "the S&P 500 index's volatility has surpassed Bitcoin (BTC)," diagnosing that the S&P 500 volatility index reached 74 in April, higher than Bitcoin's 71.
Meanwhile, as rumors spread that the Trump administration was considering a 90-day tariff deferral, approximately $2 trillion (about 2,920 trillion won) temporarily flowed into the market. However, after President Trump denied the related rumors, the market crashed and only rebounded after the tariff deferral was actually announced a few days later.
This situation clearly demonstrated how quickly and extensively political uncertainty about global trade can impact asset markets across the board. With the Trump administration's policy direction emphasizing manufacturing revival in the United States expected to continue for the time being, financial and cryptocurrency markets are anticipated to brace for inherent volatility.
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